Zimbawean companies face closure over severe power cuts

📆 22/07/2019 00:10:00
📰 BDliveSA

⏱ Reading Time:
28 sec. here
2 min. at publisher
📊 Quality Score:
News: 14%
Publisher: 63%

France Nouvelles Nouvelles

Confederation of Zimbabwe Industries calls for urgent measures as 'loss of revenue runs into millions' due to power outages

A street vendor waits for customers in Chitungwiza, Zimbabwe, July 16 2019. Picture: REUTERS/Philimon Bulawayo

As the country’s economy crisis deepens cash is no longer readily available in Zimbabwe’s banks and most citizens rely on mobile money payments, in particular Econet’s Ecocash system which enjoys a near-monopoly in transactions. Confederation of Zimbabwe Industries president Henry Ruzvidzo said the power cuts had prevented some exporters from meeting targets.

Chinese company Sunny Yi Feng, which started operating in the country in 2019 after investing $120m, said it had suffered a loss of $1,3m in production due to power cuts.

Écrire un Commentaire

marinavanzyl Matshela Energy is coming to their rescue, pretty soon, isn't it so koko_matshela ?

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

In City Press Business: Moyo versus Manuel; Ngqura closure costs R1 billion; Limited power of rates
La source: City_Press - 🏆 7. / 72 Lire la suite »